• US: +1-408-610-2300
  • Toll Free: +1-866-831-4085
  • Login / Register
Stepper Motors Market Share & Research, 2025 | Industry Report

Stepper Motors Market Analysis Report By Type, By Motion Control, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17620023  |  Published: August 2020  |  No of Pages: 97
Format: Electronic (PDF)  |  Industry: Machinery and Machine Parts  |  Publisher: Grand View Research

Industry Insights

The stepper motors market size across the globe was valued at USD 4.6 billion in 2018. It is projected to witness a 4.1% CAGR over the forecasted years, 2019 to 2025. The surging growth of the automation and robotics industry coupled with the need for design and manufacturing process optimization is projected to drive the market growth for stepper motors.

The process of product development and manufacturing requires miniature motors that work on higher operational efficiency. Also, their usage in applications that require enhanced efficiency, more torque speed, and higher precision is driving their demand across several industrial segments.          

Asia Pacific stepper motors market

Several medical types of equipment such as blood analyzers and X-ray machines also make use of stepper motors for controlled and stable movements. Rapid developments across the healthcare sector such as the invention of oxygen concentrators are witnessing significant growth in the last few years. This equipment requires stepper motors owing to features like low noise creation and reduced sizes. Such factors are projected to propel market demand across the globe.

Type Insights

In 2018, the hybrid motors segment held the highest share across the global stepper motors market. This can be associated with its combined features of PM (permanent magnet) and VR (variable reluctance) features which can help in attaining desired power. Further, benefits like reduced stepping rate, more efficiency, and higher torque are expected to propel market growth.

The segment of the permanent magnet also accounted for a significant share across the global market in 2018. This can be associated with their features like more dent torque and the requirement of low power. Also, benefits like reduction in manufacturing costs, reduced density, lower emissions, and higher power output are projected to trigger the market growth for this segment.

Motion Control Insights

Based on the motion controls, the global market can be segmented into open-loop and closed-loop systems. In 2018, the open-loop motion control segment dominated the global market with a share of around 60.0%. These motors are inherently open-loop devices that can be controlled by a sequence of pulses within a limited interval of time.

Canada stepper motors market

The segment of closed-loop is projected to witness significant growth over the forecasted years, 2019 to 2025. This can be associated with its features like enhanced stability standards and more precision. Further, benefits like smooth rotation, quick response, and instant acceleration are projected to trigger market growth for the closed-loop segment in the upcoming years.

Application Insights

The global market can be segmented into medical equipment, industrial machinery, automotive, packaging machinery, and others based on the application insights. In 2018, the automotive segment held the largest share across the global market. It is also anticipated to register linear growth from 2019 to 2025. This growth can be associated with its wide range of applications in cars, hybrid and electric vehicles. Moreover, their features like enhanced operational efficiency coupled with minimum cooling requirements are anticipated to propel their demand across the globe.

The segment of industrial machinery is projected to register the highest CAGR in the forecasted years. This can be attributed to the rising deployment of products like feeder drives, robotics, and extruders which require stepper motors for their operations. Also, usage of such motors in CNC (Computerized Numerical Control) machines and retrofit kits is expected to gain traction in the upcoming years.

Regional Insights

In 2018, Asia Pacific held the largest share across the global stepper motor market. IT is also projected to witness the highest CAGR over the forecasted years, 2019 to 2025. This can be attributed to the rising usage of stepper motors across various motion control systems in countries like Japan and China.

North America is anticipated to witness the second-highest growth in the upcoming years. This can be associated with the surging presence of motors manufacturers across countries like the U.S. and Canada coupled with the rising number of discrete industries making use of these motors across this region. Moreover, the rapid development of automation and robotic technologies are projected to trigger the demand.

COVID-19 Impact Insights

The market growth has been hindered globally due to the ongoing COVID-19 crisis. This can be associated with the fact that a large number of key players operating in this market are located in China. Thus, the imposition of lockdown and restrictions over cargo movement by several countries has obstructed the supply chain. Also, stagnancy across automobile and other manufacturing sectors owing to the unavailability of laborers is projected to impact the market growth negatively. But, rapid technological advancements undertaken by manufacturers for improving operational efficiency are anticipated to restore the market growth in the post-pandemic period.

Stepper Motor Market Share Insight

The global market includes key players such as AMETEK.Inc; MOONS'; MinebeaMitsumi Inc.; Phytron GmbH and Nippon Pulse America, Inc. They are constantly engaged in product development and innovation to gain a competitive advantage over other players.

They are also implementing strategies like expansions and acquisitions to widen their geographical reach. For example, Oriental Motors USA Corp. had launched stepper motors in 2019 under the name of the PKP series that included harmonic gear of size 51.0 mm (2.0 inches).

Report Scope

Attribute

Details

The base year for estimation

2018

Actual estimates/Historical data

2014 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD billion and CAGR from 2019 to 2025

Regional Scope

North America; Europe; Asia Pacific; Latin America; MEA

Country Scope

U.S.; Canada; UK; Germany; China; India; Japan; Brazil; Mexico

Report coverage

Revenue forecast, competitive landscape, growth factors, and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization

Segments Covered in the Report 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends from 2014 to 2025 in each of the sub-segments. For this study, Million Insights has segmented the global stepper motors market based on type, motion control, application, and region:

• Type Outlook (Revenue, USD Million, 2014 - 2025)
    • Permanent Magnet
    • Hybrid
    • Variable Reluctance

• Motion Control Outlook (Revenue, USD Million, 2014 - 2025)
    • Closed Loop
    • Open Loop

• Application Outlook (Revenue, USD Million, 2014 - 2025)
    • Industrial Machinery
    • Medical Equipment
    • Packaging Machinery
    • Automotive
    • Others

• Regional Outlook (Revenue, USD Million, 2014 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • The U.K.
        • Germany
    • The Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
        • Mexico
    • Middle East and Africa

What questions do you have? Get quick response from our industry experts. Request More information
Key questions answered in the report include
key questions
We also offers customization on reports based on specific client requirement.
Request for Customization

Choose License Type

Research Assistance

Ryan Manuel
Ryan Manuel

Research Support Specialist, USA

  1. Phone: +1-408-610-2300
  2. Toll Free: +1-866-831-4085
  3. Email: [email protected]
  • World's largest premium report database
  • Transparent pre & post sale customer engagement model
  • Unparalleled flexibility in terms of rendering services
  • Safe & secure web experience
  • 24*5 Research support service
  • 100% Secure Payments
  • Our Promise
  • 100% Service Assurance
  • Market Monitoring
  • Service Flexibility
  • 24X5 Care available